StockNews.com Downgrades California Water Service Group (NYSE:CWT) to Sell

California Water Service Group (NYSE:CWT) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

CWT has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. Bank of America assumed coverage on California Water Service Group in a research note on Wednesday, December 11th. They set a “buy” rating and a $57.00 target price for the company.

California Water Service Group Stock Down 2.0 %

CWT opened at $48.55 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a fifty day moving average of $46.20 and a 200-day moving average of $48.36. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25. The company has a market capitalization of $2.89 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.46 and a beta of 0.49.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The business had revenue of $222.20 million during the quarter, compared to the consensus estimate of $216.37 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities analysts expect that California Water Service Group will post 3.15 EPS for the current year.

Hedge Funds Weigh In On California Water Service Group

Large investors have recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in California Water Service Group by 751.3% during the 1st quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 601 shares during the last quarter. Parkworth Wealth Management Inc. acquired a new stake in California Water Service Group during the 4th quarter worth about $50,000. Sterling Capital Management LLC raised its position in shares of California Water Service Group by 785.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider’s stock worth $65,000 after acquiring an additional 1,273 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of California Water Service Group in the 4th quarter valued at about $78,000. Finally, Federated Hermes Inc. boosted its position in shares of California Water Service Group by 27.6% during the 4th quarter. Federated Hermes Inc. now owns 1,969 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 426 shares in the last quarter. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Company Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection services.